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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  SEEK Limited    SEK   AU000000SEK6

SEEK LIMITED

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Australia's Seek in talks over new investors in Zhaopin

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09/16/2020 | 01:31am EDT

Online jobs portal Seek Ltd is in talks with a number of parties on whether to bring new investors into its Chinese unit, it said on Wednesday, after a report indicated that Alibaba was eyeing an investment.

Melbourne-based Seek said the discussions aimed "to assess whether the introduction of new investors could better support Zhaopin's long term growth aspirations."

Seek did not name the parties it was talking to, but late on Tuesday, The Information https://www.theinformation.com/articles/alibaba-eyes-stake-in-online-jobs-classifieds-company-zhaopin website said e-commerce giant Alibaba was looking to invest "hundreds of millions of dollars" in Zhaopin, driving up the Australian firm's shares by 13%.

Alibaba did not immediately respond to a request for comment.

The discussions, just three years after Seek led a consortium to take the then New York-listed Zhaopin private, come as the firm's underlying annual profit halved after the coronavirus pandemic put a freeze on corporate hiring plans.

However Zhaopin had "recovered well" in the June quarter as China remerged from lockdowns earlier than other nations, the company said, adding that its performance "bodes well for a robust recovery" when normal conditions return.

"Our long-term focus remains on supporting Zhaopin to grow its market share in a large but competitive human capital market," it said in August.

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Jacqueline Wong and Clarence Fernandez)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 6.16% 293.98 Delayed Quote.38.60%
SEEK LIMITED -0.84% 21.29 End-of-day quote.-5.59%
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Financials
Sales 2021 1 505 M 1 078 M 1 078 M
Net income 2021 30,4 M 21,7 M 21,7 M
Net Debt 2021 1 231 M 882 M 882 M
P/E ratio 2021 230x
Yield 2021 0,16%
Capitalization 7 489 M 5 369 M 5 365 M
EV / Sales 2021 5,79x
EV / Sales 2022 4,79x
Nbr of Employees 10 000
Free-Float 87,5%
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 20,86 AUD
Last Close Price 21,29 AUD
Spread / Highest target 45,6%
Spread / Average Target -2,03%
Spread / Lowest Target -19,2%
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Managers
NameTitle
Andrew Reuven Bassat Chief Executive Officer, Executive Director & MD
Graham Burton Goldsmith Chairman
Ian Mark Narev Group COO, CEO-Asia Pacific & Americas
Geoffrey Ian Roberts Group Chief Financial Officer
Julie A. Fahey Independent Non-Executive Director
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